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Mortgage Rates

Fixed Rate Mortgages
Effective Date: January 17, 2019
Our fixed rate mortgage is used for the purchase of a home or for the refinance of an existing mortgage. Sharon Credit Union offers mortgages on 1-4 family, owner-occupied properties, condominiums, and vacation homes located within Massachusetts or Rhode Island. This type of mortgage maintains the initial interest rate for the life of the loan. The No Point No Closing Cost Mortgage removes the need to pay the standard closing costs associated with a mortgage closing, whether it is a purchase or refinance.
For more information please contact our Mortgage Consultants or call the call center at 781-784-7725 or toll free at 1-877-661-3300.
TermRatePointsAPR*Monthly Payment per $1,000
15 Years 4.125% 0 4.181% $7.46
15 Years 4.000% 1 4.203% $7.40
20 Years1 4.625% No Points, No Closing Costs 4.648% $6.39
20 Years 4.375% 0 4.421% $6.26
20 Years 4.250% 1 4.411% $6.19
30 Years 1 4.875% No Points, No Closing Costs 4.893% $5.29
30 Years 4.625% 0 4.659% $5.14
30 Years 4.500% 1 4.619% $5.07
APR = Annual Percentage Rate. Rates subject to change at any time.

Fixed Rate Mortgages Additional Information

Fixed rate mortgage products are eligible for our First Time Home Buyer credit.

1 Minimum loan amount $150,000. Standard closing costs include the cost of the credit report, appraisal, flood certificate, tax service, lender’s title insurance, deed prepared by a Sharon Credit Union attorney (for a purchase), recording and most legal fees associated with the closing. Borrower is responsible for certain closing costs, if applicable, such as prepaid interest, initial deposits for escrow, private mortgage insurance, trust review, owner’s title insurance, power of attorney, discharge fees (if greater than 1), subordination and homestead fees. First Time Home Buyer credit not applicable for this product. An upfront credit report and appraisal fee is required and will be credited at the closing. If an application is denied or withdrawn, the fees are not refundable.

Offered Rates and Terms are subject to change without notice. Call for current rates. Offer available on owner occupied, 1-4 family residences only. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and insurance premiums if applicable. Property insurance and flood insurance, if applicable, are required. Membership eligibility requirements apply. Other restrictions may apply.

* APR= Annual Percentage Rate. Fixed Rate Mortgages and their APRs are based on a $100,000 loan with a 20% down payment for the applicable term. Monthly payments shown do not include amounts for taxes and insurance premiums and, if applicable, the actual payment obligations will be greater.

For more information please contact our Mortgage Consultants or call the call center at 781-784-7725 or toll free at 1-877-661-3300.

Conventional Loan Amounts

Number of Units Maximum Original Loan Amount
1 $484,350
2 $620,200
3 $749,650
4 $931,600

Fixed Rate JUMBO First Mortgages
Effective Date: January 17, 2019
Our fixed rate jumbo mortgage is used for the purchase of a home or for the refinance of an existing jumbo mortgage. Sharon Credit Union offers mortgages on 1-4 family, owner-occupied properties, condominiums, and vacation homes located within Massachusetts or Rhode Island. This type of mortgage maintains the initial interest rate for the life of the loan.
TermRatePointsAPR*Monthly Payment per $1,000
Apply     CALCULATORS
15 Years 4.625% 0 4.660% $7.71
15 Years 4.500% 1 4.686% $7.65
20 Years 4.875% 0 4.904% $6.53
20 Years 4.750% 1 4.898% $6.46
30 Years 5.125% 0 5.148% $5.44
30 Years 5.000% 1 5.111% $5.37
APR = Annual Percentage Rate. Rates subject to change at any time.

Fixed Rate JUMBO First Mortgages Additional Information

Offered Rates and Terms are subject to change without notice. Call for current rates. Offer available on owner occupied, 1-4 family residences only. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and insurance premiums if applicable. Property insurance and flood insurance, if applicable, are required. Membership eligibility requirements apply. Other restrictions may apply.

*APR= Annual Percentage Rate. Jumbo Fixed Rate Mortgages and their APRs are based on a $500,000 loan with a 20% down payment for the applicable term. Monthly payments shown do not include amounts for taxes and insurance premiums and, if applicable, the actual payment obligations will be greater.

For more information please contact our Mortgage Consultants or call the call center at 781-784-7725 or toll free at 1-877-661-3300.

Refinance Your Mortgage - On The House
Effective Date: January 17, 2019
Are you looking for a short-term first lien refinance mortgage where you choose the term with an option to take additional funds, and there are no origination fees, points or closing costs and the servicing is retained at Sharon Credit Union? If so, our “On the House” Refinance Mortgage Products may be a solution.
TypeMax TermRateAPR*Monthly Payment per $1,000
Fixed 5 Years 4.000% 4.000% $18.42
Fixed 10 Years 4.250% 4.250% $10.24
Fixed 12 Years 4.375% 4.375% $8.94
Fixed Jumbo 5 Years 4.500% 4.500% $18.64
Fixed Jumbo 10 Years 4.750% 4.750% $10.48
Fixed Jumbo 12 Years 4.875% 4.875% $9.19
5/5 ARM 12 Years 3.875% 4.341% $8.69
5/5 ARM Jumbo 12 Years 3.875% 4.341% $8.69
APR = Annual Percentage Rate. Rates subject to change at any time.

Refinance Your Mortgage - On The House Additional Information

“On the House” Refinance Mortgage is a home equity loan secured as a first lien. *APR= Annual Percentage Rate. Your Annual Percentage Rate (APR), Term and Approved Loan Amount may vary based on your credit worthiness. Advertised APR is the lowest rate available. Not available for purchase money. Refinance only. No points, closing costs or attorney’s fees. Applicable Trust and Power of Attorney review and recording fees apply and are paid by the borrower. Other restrictions may apply. Fixed rate – terms 60 to 144 months and ARM – terms from 84 to 144 months. Payment does not include amounts for taxes and insurance premiums and, if required, the actual payment obligation will be greater.

For Fixed: Owner-occupied, 1-4 family residences and single unit condominiums only. Minimum loan amount of $25,000. Maximum loan amount of $500,000. Maximum combined loan-to-value of 80% based on assessed value (80% on appraised value). Property valuations or appraisal may be required. Appraisal required on loan amounts of $250,000 or greater. If required, applicable fees of $250-$550 to be paid by the applicant. Existing Sharon Credit Union On The House Mortgage products are eligible for this promotion.

For Jumbo Fixed and ARM: Owner-occupied, single family and single unit condominiums only. Minimum loan amount of $500,001 and maximum loan amount of $1,000,000. Maximum combined loan-to-value of 80% based on appraised value. Appraisal is required; Applicable fees of $350-$550 to be paid by the applicant. Existing Sharon Credit Union On The House Mortgage products are eligible for this promotion.

For 5/5 ARM: Owner-occupied, 1-4 family residences and single unit condominiums only. Adjustable Rate Mortgage (ARM) and their APRs are subject to increase after consummation. The APR is effective 1/17/19 and is based on a $100,000 loan. Maximum adjustment cap per 5-year period is 2%; Lifetime adjustment cap is 4%. Initial 60 payments of $869.47 at a rate of 3.875% then, based on the current index, 83 payments of $910.38 at a rate of 5.250%, and 1 payment of $910.07 at a rate of 5.250%. Maximum combined loan-to-value of 80% based on assessed value (80% on appraised value). Property valuations or appraisal may be required. Appraisal required on loan amounts of $250,000 or greater. If required, applicable fees of $250-$550 to be paid by the applicant. Existing Sharon Credit Union On The House Mortgage products are eligible for this promotion.

For 5/5 Jumbo ARM: Owner occupied, 1 family residences and single unit condominiums only. Adjustable Rate Mortgage (ARM) and their APRs are subject to increase after consummation. The APR is effective 1/17/19 and is based on a $750,000 loan. Maximum adjustment cap per 5-year period is 2%; Lifetime adjustment cap is 4%. Initial 60 payments of $6,521.04 at a rate of 3.875%, then based on the current index, 83 payments of $6,827.81 at a rate of 5.250% and 1 payment of $6,828.03 at a rate of 5.250%.

Adjustable Rate Mortgages (ARM)
Effective Date: January 17, 2019
Our adjustable rate first mortgages are used for the purchase or refinance of owner-occupied properties, condominiums and vacation homes located within Massachusetts or Rhode Island. Adjustable Rate Mortgages (ARMs) assist you in customizing a mortgage to satisfy your personal circumstances. The No Point No Closing Cost Mortgage removes the need to pay the standard closing costs associated with a mortgage closing, whether it is a purchase or refinance.
TermRatePointsAPR*Monthly Payment per $1,000
Apply     CALCULATORS
3/1 Years (30 Years) 1 3.875% No Points, No Closing Costs 5.031% $4.70
Initial 36 payments of $705.36 at a rate of 3.875%. Then, based on the current index, 323 payments of $829 at a rate of 5.375% and 1 payment of $827.45 at a rate of 5.375%
3/1 Years (30 Years) 3.625% 0 4.989% $4.56
Initial 36 payments of $456.05 at a rate of 3.625%. Then, based on the current index, 323 payments of $551.31at a rate of 5.375% and 1 payment of $550.92 at a rate of 5.375%.
5/1 Year (30 Years) 1 4.000% No Points, No Closing Costs 4.880% $4.77
Initial 60 payments of $716.12 at a rate of 4.000%. Then, based on the current index, 299 payments of $823.04 at a rate of 5.375% and 1 payment of $825.54 at a rate of 5.375%.
5/1 Year (30 Years) 3.750% 0 4.806% $4.63
Initial 60 payments of $463.12 at a rate of 3.750%. Then, based on the current index, 299 payments of $546.45 at a rate of 5.375% and 1 payment of $545.13at a rate of 5.375%.
7/1 Years (30 Years) 1 4.250% No Points, No Closing Costs 4.843% $4.92
Initial 84 payments of $737.91 at a rate of 4.250%. Then, based on the current index, 275 payments of $820.49 at a rate of 5.375% and 1 payment of $818.72 at a rate of 5.375%.
7/1 Years (30 Years) 4.000% 0 4.740% $4.77
Initial 84 payments of $477.42 at a rate of 4.000%. Then, based on the current index, 275 payments of $543.90at a rate of 5.375% and 1 payment of $541.36 at a rate of 5.375%.
10/1 Years (30 Years) 1 4.500% No Points, No Closing Costs 4.838% $5.07
Initial 120 payments of $760.03 at a rate of 4.500%. Then, based on the current index, 239 payments of $817.93 at a rate of 5.375% and 1 payment of $816.83 at a rate of 5.375%.
10/1 Years (30 Years) 4.250% 0 4.699% $4.92
Initial 120 payments of $491.94 at a rate of 4.250%. Then, based on the current index, 239 payments of $540.89 at a rate of 5.375%, and 1 payment of $539.27 at a rate of 5.375%.
5/5 Years (30 Years) 1 4.375% No Points, No Closing Costs 4.941% $4.99
Initial 60 payments of $748.93 at a rate of 4.375%. Then, based on the current index, 299 payments of $817.83at a rate of 5.250% and 1 payment of $817.18 at a rate of 5.250%.
5/5 Years (30 Years) 4.125% 0 4.865% $4.85
Initial 60 payments of $484.65 at a rate of 4.125%. Then, based on the current index, 299 payments of $543.09 at a rate of 5.250% and 1 payment of $543.89 at a rate of 5.250%.
APR = Annual Percentage Rate. Rates subject to change at any time.

Adjustable Rate Mortgages (ARM) Additional Information

Conventional Loan Amounts

Number of Units Maximum Original Loan Amount
1 $484,350
2 $620,200
3 $749,650
4 $931,600

1 Minimum loan amount $150,000. Standard closing costs include the cost of the credit report, appraisal, flood certificate, tax service, lender’s title insurance, deed prepared by a Sharon Credit Union attorney (for a purchase), recording and most legal fees associated with the closing. Borrower is responsible for certain closing costs, if applicable, such as prepaid interest, initial deposits for escrow, private mortgage insurance, trust review, owner’s title insurance, power of attorney, discharge fees (if greater than 1), subordination and homestead fees. First Time Home Buyer credit not applicable for this product. An upfront credit report and appraisal fee is required and will be credited at the closing. If an application is denied or withdrawn, the fees are not refundable.

Offered Rates and Terms are subject to change without notice. Call for current rates. Offer available on owner occupied, 1-4 family residences only. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and insurance premiums if applicable. Property insurance and flood insurance, if applicable, are required. Membership eligibility requirements apply. Other restrictions may apply.

*APR= Annual Percentage Rate. Adjustable Rate Mortgage (ARM) and their APRs are subject to increase after consummation. The APR is effective 8/23/18 and is based on a $100,000 loan with 20% down payment and no points on a 30-year term. Interest rate and monthly payments are fixed for the initial term and then adjust thereafter by a margin over the index. Monthly payments shown do not include amounts for taxes and insurance premiums and, if applicable, the actual payment obligations will be greater. The Index for the 3/1 ARM, 5/1 ARM and 7/1 ARM is the average weekly yield for 1-Year Constant Maturity Treasuries with a Margin of 2.75%, a 2% adjustment cap and a 6% lifetime cap. The Index for the 5/5 ARM is the average weekly yield for a 5-Year Constant Maturity Treasuries with a Margin of 2.75%, a 2% adjustment cap and a 5% lifetime cap.

For more information please contact our Mortgage Consultants or call the call center at 781-784-7725 or toll free at 1-877-661-3300.

Jumbo Loans - Adjustable Rate First Mortgages (ARM)
Effective Date: January 17, 2019
Our adjustable rate first mortgages are used for the purchase or refinance of owner-occupied properties, condominiums and vacation homes located within Massachusetts or Rhode Island. Adjustable Rate Mortgages (ARMs) assist you in customizing a mortgage to satisfy your personal circumstances. The No Point No Closing Cost Mortgage removes the need to pay the standard closing costs associated with a mortgage closing, whether it is a purchase or refinance.
TermRatePointsAPR*Monthly Payment per $1,000
APPLY     CALCULATORS
3/1 Years (30 Years) 1 3.875% No Points, No Closing Costs 5.031% $4.70
Initial 36 payments of $2,351.19 at a rate of 3.875%. Then, based on the current index, 323 payments of $2,763.33 at a rate of 5.375% and 1 payment of $2,760.96 at a rate of 5.375%.
3/1 Years (30 Years) 3.625% 0 4.975% $4.56
Initial 36 payments of $2,280.26 at a rate of 3.625%. Then, based on the current index, 323 payments of $2,756.55 at a rate of 5.375% and 1 payment of $2,753.17 at a rate of 5.375%.
5/1 Years (30 Years) 1 4.000% No Points, No Closing Costs 4.880% $4.77
Initial 60 payments of $2,387.08 at a rate of 4.000%. Then, based on the current index, 299 payments of $2,743.48 at a rate of 5.375% and 1 payment of $2,740.84 at a rate of 5.375%.
5/1 Years (30 Years) 3.750% 0 4.792% $4.63
Initial 60 payments of $2,315.58 at a rate of 3.750%. Then, based on the current index, 299 payments of $2,732.25 at a rate of 5.375% and 1 payment of $2,730.32 at a rate of 5.375%.
7/1 Years (30 Years) 1 4.250% No Points, No Closing Costs 4.843% $4.92
Initial 84 payments of $2,459.70 at a rate of 4.250%. Then, based on the current index, 275 payments of $2,734.96at a rate of 5.375% and 1 payment of $2,733.60 at a rate of 5.375%.
7/1 Years (30 Years) 4.000% 0 4.727% $4.77
Initial 84 payments of $2,387.08 at a rate of 4.000%. Then, based on the current index, 275 payments of $2,719.49 at a rate of 5.375% and 1 payment of $2,719.53 at a rate of 5.375%.
10/1 Years (30 Years) 1 4.500% No Points, No Closing Costs 4.838% $5.07
Initial 120 payments of $2,533.43 at a rate of 4.500%. Then, based on the current index, 239 payments of $2,726.43 at a rate of 5.375% and 1 payment of $2,725.34 at a rate of 5.375%.
10/1 Years (30 Years) 4.250% 0 4.685% $4.92
Initial 120 payments of $2,459.70 at a rate of 4.250%. Then, based on the current index, 239 payments of $2,704.43 at a rate of 5.375%, and 1 payment of $2,705.13 at a rate of 5.375%.
5/5 Years (30 Years) 1 4.375% No Points, No Closing Costs 4.941% $4.99
Initial 60 payments of $2,496.43 at a rate of 4.375%. Then, based on the current index, 299 payments of $2,726.10 at a rate of 5.250% and 1 payment of $2,724.82 at a rate of 5.250%.
5/5 Years (30 Years) 4.125% 0 4.852% $4.85
Initial 60 payments of $2,423.25 at a rate of 4.125%. Then, based on the current index, 299 payments of $2,715.46 at a rate of 5.250% and 1 payment of $2,713.20 at a rate of 5.250%.
APR = Annual Percentage Rate. Rates subject to change at any time.

Jumbo Loans - Adjustable Rate First Mortgages (ARM) Additional Information

1 Minimum loan amount $500,000. Standard closing costs include the cost of the credit report, appraisal, flood certificate, tax service, lender’s title insurance, deed prepared by a Sharon Credit Union attorney (for a purchase), recording and most legal fees associated with the closing. Borrower is responsible for certain closing costs, if applicable, such as prepaid interest, initial deposits for escrow, trust review, owner’s title insurance, power of attorney, discharge fees (if greater than 1), subordination and homestead fees. First Time Home Buyer credit not applicable for this product. An upfront credit report and appraisal fee is required and will be credited at the closing. If an application is denied or withdrawn, the fees are not refundable.

Offered Rates and Terms are subject to change without notice. Call for current rates. Offer available on owner occupied, 1-4 family residences only. If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and insurance premiums if applicable. Property insurance and flood insurance, if applicable, are required. Membership eligibility requirements apply. Other restrictions may apply.

For more information please contact our Mortgage Consultants or call the call center at 781-784-7725 or toll free at 1-877-661-3300.

*APR= Annual Percentage Rate. Jumbo Adjustable Rate Mortgages and their APRs are subject to increase after consummation. The APR is effective 8/23/18 and is based on a $500,000 loan with 20% down payment and no points on a 30-year term. Interest rate and monthly payments are fixed for the initial term and then adjust thereafter by a margin of 2.75%, a 2% adjustment cap and a 6% lifetime cap. The index for the 3/1 ARM, 5/1 ARM and 7/1 ARM is the average weekly yield for a 1-Year Constant Maturity Treasuries. The index for the 5/5 ARM is the average weekly yield for a 5-Year Constant Maturity Treasuries with a margin of 2.75%, a 2% adjustment cap and a 5% lifetime cap.

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